DebtDynamic BondRegularGrowthModerate

DSP Dynamic Term Fund

Q: What is the NAV of DSP Dynamic Term Fund?

As of 05 Oct 2026, the NAV of DSP Dynamic Term Fund is ₹3,411.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has DSP Dynamic Term Fund delivered?

DSP Dynamic Term Fund has returned +1.00% over 1 year, +5.40% per year over 3 years, +4.91% per year over 5 years and +6.52% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of DSP Dynamic Term Fund?

DSP Dynamic Term Fund charges an expense ratio of 1.16% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of DSP Dynamic Term Fund?

DSP Dynamic Term Fund's largest holdings are 6.94% GOI 11052036 (20.0%), 7.71% GOI 18052066 (12.1%), 6.90% GOI 15042065 (11.7%), 7.43% Maharashtra SDL 03122040 (7.8%) and State Bank Of India (7.8%). Holdings are disclosed monthly and change over time.

Q: How risky is DSP Dynamic Term Fund?

DSP Dynamic Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 3.0% and its worst peak-to-trough fall in our sample was -7.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of -0.37 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Dynamic Term Fund's -0.37 means it has not compensated investors for its volatility over the window. Higher is better.

Q: What is the benchmark of DSP Dynamic Term Fund?

DSP Dynamic Term Fund is benchmarked against the CRISIL Dynamic Bond A-III Index. Its alpha and beta on this page are measured against that index.

Q: Who manages DSP Dynamic Term Fund?

DSP Dynamic Term Fund is managed by Shantanu Godambe, Sandeep Yadav and Kunal Khudania at DSP.

Q: How is DSP Dynamic Term Fund taxed?

DSP Dynamic Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

DSP Mutual Fund · Best Dynamic Bond Mutual Funds

NAV

₹3,411.36

+0.06% 1D

as of 05 Oct 2026

This is the Regular plan of DSP Dynamic Term Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+0.85%absolute

52-week rangePrev NAV ₹3,409.28

Latest ₹3,411.36

Low ₹3,305.1560th percentile of its 52-week rangeHigh ₹3,483.50

Scorecard

★★☆☆☆2/5 vs 23 Dynamic Bond peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Dynamic Bond (same plan and option).

PerformanceBelow avg

3Y CAGR +5.40% · ranks 17 of 22 Dynamic Bond funds

RiskHigh

Volatility 3.0% vs 2.1% category avg

CostAverage

1.2% expense vs 1.3% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 100% of rolling 3-year windows

Concerns

Trails the Dynamic Bond average on 1M/3M/1Y — 1Y by 2.06pp
3-year return (+5.40%) trails the Dynamic Bond average (+6.07%)
Ranks #20 of 22 on 1-year return in its Dynamic Bond cohort
More volatile than its Dynamic Bond peers (3.0% vs 2.1%)

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.16%

Category 1.25%▼0.09%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

-0.37

Category -0.20▼0.17

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

CRISIL Dynamic Bond A-III Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

10 May 2007

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-0.95%

Absolute return over the last 3 months (not annualized)

-1.72%

Absolute return over the last 6 months (not annualized)

+3.21%

Absolute return since 1 Jan of this year (not annualized)

+0.76%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+1.00%

3-year annualized return (CAGR)

+5.40%

5-year annualized return (CAGR)

+4.91%

10-year annualized return (CAGR)

+5.83%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+6.52%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

3.00%

Excess return per unit of total volatility (rf = 6.5%)

-0.37

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

-0.50

Largest peak-to-trough decline over full history

-7.53%

Benchmark ratios

Not shown for Dynamic Bond — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Dynamic Bond)

Period	Fund	Category avg.	Diff
1M abs	-0.95%	-0.31%	-0.64%
3M abs	-1.72%	-0.47%	-1.25%
6M abs	+3.21%	+2.99%	+0.22%
1Y CAGR	+1.00%	+3.06%	-2.06%
3Y CAGR	+5.40%	+6.07%	-0.67%
5Y CAGR	+4.91%	+5.36%	-0.45%

Category average across peers in Dynamic Bond (up to 21 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 21 peers in Dynamic Bond

1Y return

+1.00%

Beats 9.5% · rank #20

3Y return

+5.40%

Beats 23.8% · rank #17

5Y return

+4.91%

Beats 42.1% · rank #12

Sharpe

-0.37

Beats 33.3% · rank #15

Sortino

-0.50

Beats 33.3% · rank #15

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹6.75L

Absolute

+12.45%

XIRR

+4.79%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into DSP Dynamic Term Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+0.76%
2025	+4.16%
2024	+9.93%
2023	+7.92%
2022	+1.60%
2021	+2.36%
2020	+12.32%
2019	+10.30%
2018	+6.53%
2017	+1.82%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

4,626

Expense ratio

1.16%

YTM

7.38%

Modified duration

7.26 years

Macaulay duration

7.59 years

Average maturity

15.87 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Dynamic Bond

Compare all


DSP Dynamic Term FundThis fund DSP · Regular · Growth	★★☆☆☆	+1.00%	+5.40%	+4.91%	—	1.16%	—
360 ONE Dynamic Term Fund 360 One · Regular · Growth	★★★★★	+4.28%	+7.62%	+6.50%	—	0.59%	—
360 ONE Dynamic Term Fund 360 One · Regular · Growth	—	+4.28%	+7.62%	+6.50%	—	0.59%	—
Aditya Birla Sun Life Dynamic Term Fund Aditya Birla Sun Life · Regular · Growth	★★★★☆	+4.59%	+7.02%	+6.59%	—	1.22%	—
Axis Dynamic Term Fund Axis · Regular · Growth	★★★★★	+5.36%	+7.01%	+5.81%	—	0.65%	—
Kotak Dynamic Term Fund Kotak Mahindra · Regular · Growth	★★★★☆	+4.25%	+6.94%	+5.66%	—	1.35%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt96.43%
Cash & Equivalents3.57%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-7.5%04 Jun 2008 → 14 Nov 2008
Fell over 5 months, back to the old high on 09 Jun 2010 — 1.6 years under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

DSP Mutual Fund is run by DSP Asset Managers, part of the DSP Group, a Mumbai financial firm whose broking lineage runs back to 1860. The house operated as a joint venture with BlackRock — and Merrill Lynch before it — until the DSP family bought out the foreign stake in 2018.

Launched

15 Dec 1996

Total AUM

₹2,29,802Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

dspim.com

Fund Managers

SGShantanu GodambeManaging since 01 Jun 2023

Education

CFA, MS(Finance), B.Com

Experience

Over 17 years of experience From March 2023 Onwards: Vice President (Investments - Fixed Income) - DSP Asset Managers Private Limited From January 2016-February 2023: Group Executive Vice President – Financial Markets - Plus SDL – April 2033 Index Yes Bank Ltd From November 2008-January 2016: Head – SLR Desk - Prebon Yamane India Ltd

Funds managed (14)

All schemes Shantanu Godambe runs →

SYSandeep YadavManaging since 01 Mar 2022

Experience

Over 22 years of Experience: From April 01, 2023 onwards- Head Fixed Income- DSP Asset Managers Private Limited From September 02, 2021 to March 31, 2023- Head Fixed Income- DSP Investment Managers Private Limited From Jan 2006- Aug 2021 – Yes Bank Ltd- Head Primary Dealership and Fixed Income Trading. From Apr 2004- Sep 2005- Cognizant Technology Solutions- Senior Business Analyst From Jan 2001- Apr 2002- Hughes Software Solutions- Software Engineer From Aug 2000 – Jan 2001- Mahindra British Telecom- Trainee Software Engineer

Funds managed (2)

All schemes Sandeep Yadav runs →

KKKunal KhudaniaManaging since 01 Jul 2025

Education

Chartered Accountant B.Com (Honors)

Experience

8 years of experience: From July 01, 2025 to present: Fund Manager (Fixed Income) DSP Asset Managers Private Limited From August 02, 2024 to present: Dealer (Fixed Income) – DSP Asset Managers Private Limited From April 01, 2023 to August 01, 2024: Credit Analyst – DSP Asset Managers Private Limited From August 16, 2022 to March 31, 2023: Credit Analyst – DSP Investment Managers Private Limited From March 17, 2017 to August 12, 2022 – Credit Analyst – Mirae Asset Investment Managers India Private Limited From July, 2016 to March, 2017 – Market Analyst – Futures First Info Services Private Limited

Funds managed (2)

All schemes Kunal Khudania runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Shantanu Godambe Sandeep Yadav Kunal Khudania

DSP in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Dynamic Bond funds

Dynamic bond funds have no duration mandate at all: the manager moves between short and long bonds as their rate view changes. That hands one call — where rates go next — to the manager, so the outcome depends heavily on getting it right.

Frequently asked questions

What is the NAV of DSP Dynamic Term Fund?

As of 05 Oct 2026, the NAV of DSP Dynamic Term Fund is ₹3,411.36 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has DSP Dynamic Term Fund delivered?

DSP Dynamic Term Fund has returned +1.00% over 1 year, +5.40% per year over 3 years, +4.91% per year over 5 years and +6.52% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of DSP Dynamic Term Fund?

DSP Dynamic Term Fund charges an expense ratio of 1.16% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of DSP Dynamic Term Fund?

DSP Dynamic Term Fund's largest holdings are 6.94% GOI 11052036 (20.0%), 7.71% GOI 18052066 (12.1%), 6.90% GOI 15042065 (11.7%), 7.43% Maharashtra SDL 03122040 (7.8%) and State Bank Of India (7.8%). Holdings are disclosed monthly and change over time.

How risky is DSP Dynamic Term Fund?

DSP Dynamic Term Fund is rated moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 3.0% and its worst peak-to-trough fall in our sample was -7.5%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of -0.37 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. DSP Dynamic Term Fund's -0.37 means it has not compensated investors for its volatility over the window. Higher is better.

What is the benchmark of DSP Dynamic Term Fund?

DSP Dynamic Term Fund is benchmarked against the CRISIL Dynamic Bond A-III Index. Its alpha and beta on this page are measured against that index.

Who manages DSP Dynamic Term Fund?

DSP Dynamic Term Fund is managed by Shantanu Godambe, Sandeep Yadav and Kunal Khudania at DSP.

How is DSP Dynamic Term Fund taxed?

DSP Dynamic Term Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.